Review of Recent Developments in U.C.C. Article 8 and Investment Securities

As revised Article 8 of the Uniform Commercial Code (UCC) has been introduced and adopted by numerous state legislatures in the past year, courts continue to decide issues concerning investment securities arising under the pre-1994 version of UCC Article 8. A legislative update on revised Article 8 is provided and the reproposal of the Treasury/Reserve Automated Debt Entry System regulations governing transfers of book-entry Treasury securities is reviewed. Recent decisions of special interest, including cases considering claims against shares in a cooperative apartment building, the nature of limited partnership interests under the UCC, and issues relating to transfers of investment securities, are discussed.